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Mudrick Capital completes sale of additional shares in IPO

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Mudrick Capital completes sale of additional shares in IPO

Mudrick Capital Acquisition Corp., a blank check company, has completed the sale of an additional 800,000 units pursuant to the underwriters' overallotment option as part of its previously announced IPO.

The shares were sold at the initial offering price of $10.00 per unit, resulting in additional gross proceeds of $8 million to the company and bringing the total gross proceeds to $208 million.

Of the proceeds received from the IPO and the private placement of units, including the sale of additional shares, around $210.1 million was placed in trust.

Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Chardan acted as lead manager. Ellenoff Grossman & Schole LLP acted as counsel to the company while Winston & Strawn LLP acted as counsel to the underwriters.